As Richmond voters are getting another chance to approve or reject a casino, one of the companies behind the project has been flagged for financial reporting irregularities which could result in its removal from the stock exchange.
Urban One, the Maryland-based company backing the “Richmond Grand Resort and Casino” in partnership with Kentucky-based Churchill Downs, was notified on Friday that the Nasdaq stock market has initiated the process to possibly delist the company.
The action followed Urban One’s failures to comply with financial reporting requirements as mandated by the federal government…
According to information on Urban One’s website, the first notification of noncompliance from Nasdaq arrived in April when Urban One missed the deadline for filing its 2022 annual financial report.
